Toyota US Sales Up 2.5% in May image

Toyota reported US sales in May up 2.5%, surpassing analysts’ expectations.

Analysts predicted that Toyota’s US sales will increase 0.2% and the overall auto sales in the region will jump 6.5% in May. Toyota sold 207,952 vehicles, an increase of 18% from April, when it sold 176,160 vehicles. Last month the Japanese automaker reported net profit tripled in the fiscal year ended March, thanks to increased sales in the US. Toyota is still recovering after the 2011 natural disasters which hit Japan and Thailand and the massive recall it had to deal with.

Toyota and its joint ventures in China with FAW Group and Guangzhou Automobile Group sold 79,000 vehicles in the region last month, up 0.3%, compared with a drop of 6.5% in April. The Japanese automaker plans to sell 900,000 vehicles in China by the end of this year, an increase of 7.1% compared with 2012.

“Our original expectation was for sales to come back in half a year, but now our plan is to push harder after our new product introductions in the fall,” said Hiroji Onishi, Toyota’s China head. “We’ll be focusing more on inland areas and also the younger generation.”

Source: wsj.com